Islamic Development Bank holds meeting on means for preparing the Muslim nation

The council of executive directors at the Jeddah-based Islamic Development Bank (IDB) resumed on Monday its 181st session in Benin - Saudi Arabia under the chairmanship of IDB's president Ahmed Mohammed Ali, reported the Saudi Press Agency SPA.

The agenda includes study of recommendations submitted by the IDB's president on means for preparing the Muslim nation for the 21st century and the role expected to be played by the IDB in enhancing commercial exchanges among its member states.

Meanwhile, the council reviewed Togo's membership application and recommended to the council of IDB's governors to accept the African country as the 53rd member of the IDB.

The council also reviewed a report on cooperation between the IDB and the other Islamic banks as well as the arrangements for convening the 23rd annual meeting for the IDB's governors, duo to be held at the level of ministers of finance, planning and economy on Tuesday in Benin.

The council also approved the allocation of 127.7 million dollar to finance eight development projects in Benin, Bangladesh, Malaysia, Comoros, Jordan, Syria and Oman in addition to allocation of assistance to the Muslim communities in non-Muslim countries.